WHERE RETIRED TEACHERS STAND IN THE NEW CONNECTICUT BUDGET The legislature has passed a plan proposed by Governor Ned Lamont and Treasurer Shawn Wooden to shore up the critically underfunded teachers’ pension system. The bond covenant will be completely honored but payments will be spread out until 2049 instead of 2032. The plan also includes…
RETIRED TEACHERS’ PENSION & HEALTH INSURANCE FUND Governor Lamont’s budget proposal made it an urgent priority to stabilize the teachers’ pension fund. He noted: “It has been badly underfunded and doesn’t keep faith with our current teachers.” His budget also contributes the State’s full-required appropriation to the Retired Teachers’ Health Insurance Fund. The under funding…
Fact vs. Fiction: The Reality of Retired Teachers’ Pension and Health Benefits (A summary of an Op-ed. piece written by ARTC President Ed Messina with some additional points.) A main priority for ARTC is to dispel popular myths about retired teacher benefits. Active Connecticut teachers pay 9.7% of their paycheck:7% to Teachers’ Retirement Fund, 1.25% to…
The TRB Health Insurance Plan is changing as of July 1, 2018. Open enrollment will begin in mid-April and run until early May. Members will be receiving a preenrollment kit prior to April 1st. The pre-enrollment kit will include a full benefit plan description as well as “Opt-Out” instructions to remain in the Stirling plan.…
The State of Connecticut finally has a budget after a lengthy delay. The result is not good news for retired teachers. The promised 50% reduction in our State income tax has been delayed for at least 2 years. The rate, however, will remain at 25% for 2017 and 2018. If you retired and were receiving…